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The Pulse (01-18-13)

Jan. 18, 2013 ● Volume 02, Issue 03

Credit Union News

Gov. Dayton to keynote CU Day at the Capitol

Gov. Dayton

The Minnesota Credit Union Network recently announced the addition of Gov. Mark Dayton to its lineup of influential speakers for this year's Credit Union Day at the Capitol on Tuesday, Jan. 29. Gov. Dayton, along with other Minnesota political leaders, will provide attendees insight into the legislative issues facing the state. Through breakout sessions, a legislative briefing and political speakers, Credit Union Day at the Capitol equips credit union professionals and volunteers to be knowledgeable political advocates.

In addition to Gov. Dayton, other keynote speakers will include:

House Commerce Chairman Joe Atkins (DFL-Inver Grove Heights);

Senate Majority Leader Tom Bakk (DFL-Cook);

House Minority Leader Kurt Daudt (R-Crown);

Senate Commerce Chairman James Metzen (DFL-South St. Paul);

Commerce Commissioner Mike Rothman; and

Speaker of the House Paul Thissen (DFL-Minneapolis).

Note: While all of the speakers, including Gov. Dayton, have confirmed their attendance at CU Day, last-minute changes to the legislative schedule may prevent them from being able to attend.

Credit union attendees are invited to participate in MnCUN's free pre-event webinar on Tuesday, Jan. 22, at 10 a.m. to receive an in-depth look into Credit Union Day at the Capitol. This webinar will highlight the event's schedule, along with providing an overview of the legislative session. Attendees will learn about changes to this year's Credit Union Day at the Capitol, receive information about the new process for scheduling legislative visits, and gain insight into The Crew young professionals event. Additionally, MnCUN's Vice President – Governmental Affairs Mara Humphrey will provide credit union professionals and volunteers with an issues briefing for the 2013 Legislative Session.

To participate in the webinar and register for CU Day, visit the Credit Union Day at the Capitol page of the Network website. All CU Day registrations must be received by Thursday, Jan. 24.

Minnesota CUs have a strong 3rd quarter; notable 2013 predicted

Credit unions throughout the state closed third quarter of 2012 with growth in loan balances, savings balances and membership, according to the Network's 3rd quarter statistical profile. Credit unions can now download the complete Minnesota profile publication, which analyzes the national and state economies and the impact on the credit union movement. Working together with economic and research experts at CUNA, MnCUN developed this quarterly report to highlight Minnesota credit unions' performance, ratios and trends.

At the end of the third quarter, Minnesota credit union financial performance indicators showed broad improvements. Loan balances increased 1.5 percent, which was an increase from a 1.4 percent rise in the third quarter of 2011. Credit unions' 5.7 percent growth in the new auto loan portfolio was the major driving force of this increase. In addition, aggregate savings balance increased by 8.9 percent over the last 12 months ending in the third quarter – the fastest pace in three years. In the area of membership, Minnesota credit unions added 58,000 members in the third quarter, bringing the total number of credit union members in Minnesota to 1,568,000. This is a 2 percent growth rate, which is up from the 0.6 percent increase in the third quarter of 2011.

Minnesota credit unions' strong financial performance in 2012 positions them to have a positive year in 2013. Economists predict that credit unions should expect faster loan growth in 2013 now that households have more capacity regarding their tax bill and fewer worries regarding their job security. Loan delinquencies rates are also expected to fall below 0.9 percent in 2013. This will lower credit unions' provision for loan losses and therefore boost bottom lines.

For additional insights from the report, along with charts and credit union data, visit the Minnesota Credit Union Profile page of the Network website. Credit unions are encouraged to share this information internally and with members of the media. With questions about the report's information and data, contact MnCUN Controller Tommy Rempfer by email or at (651) 288-5511. With questions about disseminating this information to the media or your members, contact MnCUN Director of Communications Rachel Anderson by email or at (651) 288-5527.

Quick clicks to explore MnCUN's member services

As a dues-paying member of the Minnesota Credit Union Network, we thank you for your involvement and support. To ensure that you are aware of all that MnCUN has to offer and to make the most of your membership, credit unions are encouraged to take a deeper look at the Network's core areas of focus as listed below. Follow the headline links for additional information!

Governmental AffairsThe Network's governmental affairs department works to pass policy provisions to strengthen credit unions' charters, defend credit unions against adverse legislation, and positively position credit unions in the political arena through grassroots activities. Credit union staff, volunteers and members are sought to participate in grassroots activism through GREAT, as well as through political fundraising and a variety of programs and events. Governmental affairs news is shared with member credit unions each week through The Pulse e-newsletter. Individuals that have a password to the Network website can access MnCUN's issues & talking points briefs, track credit union-related bills as they progress through the state Legislature, and download the best-practices fundraising guide.

Regulatory ComplianceMnCUN's legal department is the primary source for information on compliance-related issues that affect the credit union movement. Staff works with and receives information from the Minnesota Department of Commerce, NCUA and CUNA to provide the most current information on federal and state laws and regulations that affect credit unions. This department fields thousands of questions per year, assisting with general compliance information on topics including lending regulations, anti-money laundering guidelines, bankruptcy, collections, employment issues and more. Additionally, compliance staff publish several guides each year, post FAQs and comment letters, and offer fee-base auditing services to member credit unions.

CommunicationsThe responsibility of the Network's communications department is to keep all of Minnesota's affiliate credit unions informed of the latest news and events affecting the credit union movement. Through newsletters, email alerts, press releases and the website, the Network places information at your fingertips. This department maintains relationships with media sources around the state and country to ensure that the credit union voice is heard on a variety of issues. Communications staff also manages MnCUN's social media presence, pushes general information about credit unions to consumers, and works with the MNAP committee to execute additional consumer communications, including the current bankziety campaign.

EducationMnCUN is dedicated to providing credit unions the training and resources they need to grow and thrive in today's financial environment. Understanding the value of ongoing learning and training, the Network's full slate of offerings encompasses a wide variety of topics applicable to staff throughout the credit union. The education department coordinates multi-day conferences, half-day workshops and seminars, and focused departmental roundtables, along with virtual training through webinars, both live and on-demand. MnCUN also has a networking group for young credit union professionals, known as The Crew.

Products & ServicesThrough the Network Service Corporation (NSC), credit unions have access to a variety of products and services provided by a number of strategically-selected organizations. The Network offers a full slate of fee-based consulting services to credit unions, including compliance and audit consulting, strategic planning, board education, credit union training and more. In addition, the products & services section of the Network website provides information about Shared Branching opportunities, CUNA Strategic Services, Minnesota Item Processing Corporation, and participants of MnCUN's Vendor Involvement Program.

With questions about the Network, please visit the contact us page of the Network website, or direct inquiries to MnCUN Vice President – Association Services Kristina Wright by email or phone at (651) 288-5507.

MnCUN publishes 2012 Compliance Reference Guide

Credit unions can now access MnCUN's 2012 Compliance Reference Guideonline. This resource provides information on a variety of regulatory and compliance topics.

The reference guide is available for download in its entirety or as individual sections. The following resources are contained within the compliance publication:

Busy? Learn on your own schedule with MnCUN's Webinars On Demand

Today's credit union professionals and volunteers are busier than ever. To assist individuals in making the most of their time, MnCUN offers Webinars On Demand, which enable personnel to learn at a time and place that is convenient for them. These sessions are available via web link and provide credit unions the option of training multiple individuals at one time.

Last month, a number of new Webinars On Demand became available, including sessions focused on ACH, collections, compliance, wire transfers and more. The new sessions include:

Take advantage of this learning opportunity today! For more information and to purchase a webinar archive, visit the Webinars On Demand page of the Network website.

Updates from Department of Commerce and NCUA

This month the Minnesota Department of Commerce and NCUA have made two announcements regarding staffing changes:

NCUA has notified MnCUN of a change in the Minnesota territory for federal examinations. Minnesota examinations will now be overseen by both current Minnesota Supervisory Examiner Justin Burleson and Supervisory Examiner Gerald Schultz, who is based out of Chicago. Both NCUA supervisory examiners manage and oversee the NCUA examiners who work with Minnesota credit unions.

Deputy Commissioner for the Financial Institutions Division Bill Horlitz announced that he will retire from the Department of Commerce on Jan. 29. Horlitz was named to his current position following the retirement of Deputy Commissioner Kevin Murphy in December 2011. Throughout his career, he spent 10 years with the Department of Commerce and 40 years as a financial institution regulator.